How Can a Legal Funding Company and Lawsuit Funding Benefit Me?
By Thomas Lincoln
If you're a plaintiff involved in a personal injury claim, the obstacles can be overwhelming. First, the personal injury may have forced you out of work. Without the ability to work, most individuals cannot provide for the necessities of their daily life. Rent, mortgage, credit card bills, daily household expenses all begin to pile up way too quickly. Litigation can be costly, and the prospect of a lengthy legal battle, while enduring the physical suffering from a serious, personal injury can be a stressful prospect.
So, let us assume that you have a legitimate, personal injury claim. The insurance companies work from a position of great advantage. They know that you're suffering physically, and they understand that as time progresses your suffering increases. They also understand that a plaintiff in your position likely cannot survive financially for very long. The leverage of this position cannot be understated, and they will use it to their advantage. Perhaps you're seeking a legitimate judgment of $100,000.00. The insurance company offers you $15,000.00 to settle. They're banking on the fact that, for a plaintiff in your position, $15,000.00 is a lifeline, a means to feed your family while you're physically unable. They also understand that the claim may be worth much, much more than that. But the playing field is NOT level.
Lawsuit funding allows a plaintiff to level the playing field. These no-risk, non-recourse funding advances can provide an alternative lifeline to personal injury plaintiffs, by providing them a legal cash advance, in order to pay short-term expenses, while allowing their attorney to fight for a more optimal settlement on their behalf.
Most lawsuit funding companies will provide these non-recourse, legal funding advances to an individual involved in any type of personal injury claim including, but not limited to, motor vehicle accident, workers' compensation, product liability, medical malpractice, wrongful termination, and wrongful death. Typically, the only requirements are that you have a qualifying, pending legal claim and are represented by an attorney. The lawsuit funding request can be processed in as little as twenty-four hours with no credit check, no income verification, zero out-of-pocket cost at any point in the legal funding process, and absolutely no obligation until you sign the lawsuit funding contract. All legal funding companies work closely with your attorney, in an attempt to assess the value of your case, and can put cash in your hands within twenty-four hours from the time you sign the legal funding agreement. Unlike traditional loans, legal funding companies offer these funding advances on a no-risk, non-recourse basis. That means that, as a personal injury plaintiff, you only pay back the legal funding advance if, and when, your case is won or a settlement is made. If your personal injury case is lost, you owe the legal funding company nothing.
Get more information on legal funding companies and lawsuit funding.
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